Reply to Woke up this morning and the diamond from my engagement ring is gone

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I FOUND IT! In the middle of the living room rug. I think it popped off last night when I was bringing in a heavy grocery bag and twisted it off my wrist in a weird way, the bag must have snagged a prong.

Yes, everyone should get their prongs checked regularly so consider this your reminder. I was doing this regularly for the first ten years or so but fell out of the habit.

When we bought it there was an insurance plan but IIRC it required getting the prongs checked annually which I haven’t been doing. I personally wouldn’t use homeowners’ insurance for this but I know some people would.

Thanks for the suggestions, DCUM! ❤️[/quote]

Glad you found it.

In order to be adequately insured you need a valuable personal property rider on your homeowners.  You “personally” not using your homeowners like this doesn’t make any sense - it’s what insurance is for.  And “some people” doing it just means “some people” have adequate insurance.

For ~100 bucks a year you can have a lot of piece of mind.  We have around 75k of jewelry insured for around 250 bucks a year and it includes theft, loss, etc.  The policy that existed with your sale sounds a lot like a gimmick.  But maybe some insurance policies require such actions, but it sounds like it was designed to be useless.[/quote]
OP here, yes that policy is definitely a gimmick - it’s designed to get you into the store regularly so they can sell you more jewelry.

Not everything is “what insurance is for.” Every time you make any kind of insurance claim (or in some states, even if you call and ask about making a claim) it goes into the CLUE report which factors into pricing every one of your policies for renewals going forward and whether you can even get insurance on any future purchase. This diamond is worth less than $5K and we have six different homeowners policies for two personal residences and four investment properties plus an umbrella policy, so we are adequately insured. [/quote]

Wow.  Yeah.  You don’t understand.  Your homeowners nor your umbrella cover valuable personal property - even in the event of otherwise covered events.  You need a separate rider.

As for the clue report, a single loss every once in a while won’t have a material impact on your rates.  Especially if you have millions of property insured, you won’t have any problems even with a few incidents and even if your rates went up, they won’t go up as much as the out of pocket expenses are to not file a claim.

I don’t know anyone who would want to pay 5000 bucks to keep it off their clue report, unless you just have a ton of claims or otherwise potentially suspicious behavior.  That’s sort of crazy to me.  Plus it falls off after 7 years.  They’d need to raise your rates by nearly 800 bucks per year for you to end up on the losing end.  That’s not going to happen.[/quote]

Good post ,PP. [/quote]

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